Traders Buy Large Volume of Put Options on Fossil Group (NASDAQ:FOSL)

Fossil Gets Buried As Business Conditions Remain Tough

Jefferies Group LLC restated a "hold" rating and issued a $19.00 target price on shares of Fossil Group in a research report on Tuesday, May 2nd.

On March 16 the company was downgraded from "Neutral" to "Underperform" and a price target of $34.00 was set in a report issued by Macquarie. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company's stock. The stock now has a consensus rating of "Hold" and an average target price of $18.75.

Shares of Fossil have plunged 23% to $9.09 at 11:24 a.m. today, while Michael Kors has gained 1.7% to $46.02, Apple has ticked up 0.1% to $160.17, Best Buy has dipped 0.1% to $61.41, and FitBit has risen 1.3% to $5.97.

Shares fell 26 percent in early trading Wednesday, following steep sell-offs in the past two quarters as business continued to deteriorate. We can set aside stochastics, this is a one bull rating for a simple reason: Fossil Group Inc is hitting a technical breakdown right now.

Taking a broader look at the analyst consensus, according to 10 analysts Fossil Group Cmn Stk (NASDAQ:FOSL)'s price will reach at $14.4 during 52 weeks.

The company now has a P/E ratio of 17.29 and the market cap of the company is 427.45M.

Wall Street analysts are predicting that Fossil Group Cmn Stk (NASDAQ:FOSL) will report earnings per share of $0.15 in their quarterly report. In the latest earnings report the EPS was $0.51 and is estimated to be $0.87 for the current year with 48,464,000 shares presently outstanding.

For the second quarter, Fossil said its sales of wearables represented 9 percent of total revenue, compared with 7 percent in the first quarter. Winslow Asset Mgmt Incorporated stated it has 0.9% of its portfolio in Fossil Group Inc (NASDAQ:FOSL). For the quarter ending Dec-17, 11 analysts have a mean sales target of 966.67 million whilst for the year ending Dec-17, 11 analysts have a mean target of 2,886.81 million. The company projected sales to drop 8.5% to 4.5% and loss per share of $7.42 to $6.62 in the third quarter. Analysts forecast that Fossil Group, Inc. will post $0.87 earnings per share for the current year.

Returns and Valuations for Fossil Group, Inc. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and worldwide copyright law.

ILLEGAL ACTIVITY WARNING: This news story was reported by Sports Perspectives and is the property of of Sports Perspectives. Also, Chairman Kosta N. Kartsotis sold 520,281 shares of the stock in a transaction on Friday, June 9th. As of the end of the quarter Contrarius Investment Management Ltd had disposed of a total of 20,843 shares trimming its position 10.3%. Following the completion of the transaction, the chairman now owns 3,445,546 shares in the company, valued at approximately $36,901,797.66. Kosta N. Kartsotis, Chairman disclosed the sale of 1,075,000 shares. The shares sold for $11.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,220,281 shares of company stock worth $23,790,210. Teachers Advisors LLC now owns 1,277,667 shares of the accessories brand company's stock worth $33,040,000 after buying an additional 88,087 shares in the last quarter.

Several hedge funds have recently made changes to their positions in the stock. Wayne Hummer Investments L.L.C. purchased a new position in Fossil Group during the first quarter worth approximately $205,000. Robeco Institutional Asset Management B.V. now owns 35,298 shares of the accessories brand company's stock valued at $366,000 after buying an additional 10,166 shares during the last quarter. Hedge funds and other institutional investors own 97.21% of the company's stock. Renaissance Technologies LLC acquired a new stake in shares of Fossil Group during the fourth quarter valued at $217,000.


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